Zeal to halt mortgage fraud hampers housing recovery: Column by Senior Lecturer Seth Weissman

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"Roughly three in 10 homes in the United States are now worth less than the mortgages on those homes. There is a continuing cycle of homeowners walking away from their mortgages, driving down home prices and causing other homeowners to abandon their mortgages. There are potential fixes to housing that do not require new federal stimulus measures but merely require that present programs, policies and attitudes be tweaked.  The sledgehammer we have been taking to the housing market to prevent mortgage fraud needs to be replaced with a scalpel because the former approach is depressing the recovery of the housing market."

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School of City & Regional Planning

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Keywords
foreclosure, Housing, mortgage, seth weissman
Status
  • Created By: Mike Alberghini
  • Workflow Status: Published
  • Created On: Aug 22, 2011 - 11:30am
  • Last Updated: Oct 7, 2016 - 10:25pm